About DCS Advisory

Perth’s localInsolvencySpecialist

DCS Advisory is a boutique Insolvency firm operating from our West Perth office. The firm is independently owned by its three Directors, who are assisted by a highly capable team of professional and support staff. We pride ourselves in having a vast knowledge and understanding of the Western Australian business community, gained through our many years of experience in a various range of industries including; Agriculture, Earthmoving and Civil Construction, Franchising, Hospitality, Manufacturing, Mining and Mining Services, Property, Retail, Transport, Wholesale and Construction, just to name a few.

At DCS Advisory, our constant objective is to consider all options, with a view to maximising the return to creditors, whilst minimising the financial and emotional stress experienced by those with financial difficulties.

What We Do

Our Services

Voluntary Administration

Deed of Company Arrangement (DOCA)

Creditors Voluntary Winding Up

Members Voluntary Winding Up

Official Liquidation

Provisional Liquidation

Voluntary Administration

A Voluntary Administration is an insolvency procedure where the directors of a financially troubled company or a secured creditor (e.g. a bank with a charge over most of the company’s assets) appoint an administrator.

A voluntary administrator is usually appointed by a company’s directors, after they decide the company is insolvent or is likely to become insolvent. Less commonly, a voluntary administrator may be appointed by a liquidator, provisional liquidator or a secured creditor.

The role of the voluntary administrator is to investigate the company’s affairs, report to creditors and then recommend to the creditors whether the company should enter into a deed of company arrangement, go into liquidation or be returned to the directors.

Deed of Company Arrangement (DOCA)

A Deed of Company Arrangement (DOCA) is a binding arrangement between a company and it’s creditors. This arrangement governs how the company’s affairs will be dealt with – this is a result of the company entering into a Voluntary Administration with the approval of the creditors. A DOCA generally offers a one off payment, or instalments to the creditors of the company for full and final settlement of the company’s debts.

Creditors Voluntary Winding Up

A Creditors’ Voluntary winding up is when the company is insolvent. In this instance this occurs when the members (shareholders) resolve by a special resolution to wind the company up. The members (shareholders) appoint the liquidator who would then take control of the company and investigate the affairs of the company.

Members Voluntary Winding Up

A Member’s Voluntary Winding Up is when the shareholders of a solvent company elect a voluntary winding up resolution. In this process the shareholders appoint a liquidator to realise the assets of the business, in order to then distribute the proceeds to company members (shareholders) usually for tax benefits.

Official Liquidation

An Official Liquidation is when a creditor/creditors of the company make an application with the courts to wind up the company due to their debts not being paid. This allows for a realisation of the company assets, investigations into the company’s failure and distribution of their assets among the creditors.

Provisional Liquidation

A Provisional Liquidation is when the court appoints a liquidator to the company for the period between the filing of the application to wind up the company and the court hearing the application.

Receivership and Controller

Restructuring and Turnarounds

Personal Insolvency Agreements (Part X)

Bankruptcy

Informal Arrangements with Creditors

Forensic Investigations

Receivership and Controller

A Receivership is a form of external administration which may apply to corporations, partnerships and individuals. Corporate receiverships are the most common and they are typically initiated when a secured creditor e.g. a bank appoints a receiver. This is usually due to default under a loan contract, and a receiver is appointed in order to recoup its loan through sale of assets subject to its security.

Restructuring and Turnarounds

A restructure and turnaround is usually made when there are significant problems jeopardising the company. The purpose of restructuring and turnaround is to eliminate financial harm and improve the business. This can include but is not limited to change payments, operations or structure of the company.

Personal Insolvency Agreements (Part X)

Personal Insolvency Agreements or Part X, is a formal way to deal with an individual’s unmanageable debt. This agreement generally involves coming to an arrangement with your creditors to settle the debts without having to become bankrupt. A legally binding agreement is entered into between the individual and the creditors, where the creditors are paid in full or in part – for this to be successful the creditors need to vote and accept the offer by 75% of the value voting in favour with a majority in number.

Bankruptcy

Bankruptcy is a legal proceeding involving a person or business who is unable to repay their outstanding debts. The process can be initiated by either the debtor (which is more common) or a creditor who files a petition with the court. Once the petition is filed, the debtor’s assets are assessed, and valued – these assets are then used to repay the outstanding debts. Once the process has been completed the debtor is relieved of all debt obligations that existed prior to becoming bankrupt, other than excluded debts.

Informal Arrangements with Creditors

An Informal Administration is generally used when the company, or individual has very few creditors. This can avoid the insolvency stigma and investigations into the affairs of the company or individual. This arrangement only binds the known creditors of the company or individual in the agreements.

Forensic Investigations

A Forensic Investigation involves accountants investigating the affairs of a company and/or individual. They may investigate crimes such as fraud and give expert testimony in Court trials or disputes between parties for civil and commercial disputes.

Find out who we are

Meet the Team

Shaun Boyle

Shaun Boyle has extensive experience in both corporate and personal insolvency, including experience of debt restructuring and recovery assignments. Shaun is a Registered and Official Liquidator that holds a Bachelor of Commerce, majoring in Accounting, a CPA accreditation, along with being a member of the Australian Restructuring Insolvency & Turnaround Association (ARITA).

Shaun prides himself on continuing to endeavor to provide the best solution whilst remaining cost effective and upholding high ethical standards. He’s gained exposure from both small businesses through to public companies in a range of industries. Shaun is recognised for providing the maximum return to stakeholders whilst dealing with complex issues in difficult circumstances, in a timely and efficient manner.

Ian Patterson

Ian Patterson has extensive experience in banking and insolvency. Ian first began his career by undertaking a Certificate in Finance Broking (equivalent to a Diploma in Finance Broking) and is now also a recognised Justice of the Peace.

Ian was a part time lecturer at TAFE as well as the Institute of Finance, has been a Managing Director of a Terminating Building Society for over 8 years and is a Principal of a Finance Broking Company.

Natasha Petrie

Natasha Petrie is a Registered Trustee in Bankruptcy with over 15 years of insolvency experience. Originating from Tasmania, Natasha and her family relocated to Western Australia in 2012 and she joined the firm in 2015.

Natasha obtained her Bachelor of Commerce from the University of Tasmania, is a Chartered Accountant and member of the Australian Restructuring Insolvency & Turnaround Association (ARITA).

Whilst specialising in personal insolvency, Natasha also has extensive experience in corporate administrations across a broad range of industries.

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Frequently Asked Questions

We would be more than happy to offer a free consultation to discuss and go through your options with you.

Am I alone, or do many people and/or companies need insolvency assistance?

Every year there are approximately 400,000 Australians who are affected by approximately 30,000 Bankruptcies and 10,000 corporate external administrations. This impact can be significant on people’s lives. We are here to assist you through the process and support you during this time.

How long will it take to fix my problem?

Depending on your situation, the course of action required, and the complexities of the matter the timeframe can vary. It’s best to come in and see one of our Directors so they can provide individual advice for your circumstances.